Abu Dhabi – Mubasher: Ras Al Khaimah National Insurance Company (RAK Insurance) saw net profits of AED 11.36 million in the first nine months of 2020, against net losses of AED 664,390 in the corresponding period of 2019.
The company posted a net underwriting income of AED 4.51 million in the January-September period of 2020, versus a net underwriting loss of AED 4.18 million in the year-ago period.
The insurance company's net earned insurance premium increased to AED 275.37 million during the first nine months of 2020 from AED 244.24 million in the same period of 2019.
The basic and diluted earnings per share (EPS) stood at AED 0.09 in a period ended on 30 September 2020, against losses per share of AED 0.01.
In the third quarter (Q3) of 2020, the company reported net profits of AED 5.46 million, against net losses of AED 3.92 million in the corresponding quarter of 2019.
It is noteworthy to mention that in the first half (H1) of 2020, RAK Insurance posted net profits of AED 5.9 million, compared with AED 4.58 million in the same period of 2019.
